Vietnam’s job market maintains recovery momentum

Data released by the General Statistics Office on July 7 shows that the domestic job market has continued to recover from the pandemic-hit period.

In the second quarter of 2022, Vietnam reported 8 million people in the working age adversely affected by COVID-19, down by 8.9 million from the previous three months and down 4.8 million year on year.

The ratio of workers with informal jobs in the first half of 2022 was estimated at 55.9%, down 1.3 percentage points from the same period last year, while the downward trend can be seen in both urban and rural areas and in both men and women.

The unemployment rate during the January-June period was 2.39%, down 0.13% from the same period in 2021.

The average monthly income of workers was estimated at 6.5 million VND (278 USD), up 5.3% from 2021 and 11% against 2020.

According to the national statistical agency, Vietnam’s job market rebounded in the second quarter as the number of workers hit by COVID-19 fell sharply while the number of those joining the workforce continued to rise and the number with jobs rose strongly, especially in the services sector.

In addition, the growth was more sustainable with rises mainly in the formal sectors. The rates of unemployment and job shortage have both fallen while workers’ incomes have continued to improve.